Best Buy Slide Continues As Company Posts Loss
Best Buy Tuesday reported another week quarter, posting a $10 million loss, compared with a $156 million profit for the same period a year before. Same-store sales dropped 4.3 percent.
The performance was below analyst expectations, Bloomberg News said.
“In line with trends experienced over the last three years, Best Buy’s third quarter financial performance was clearly unsatisfactory," CEO Hubert Joly said in a statement.